NEW YORK (AP) -- Stocks are mixed in afternoon trading on Wall Street. The Dow has been up more than 100 points, but falling Apple shares are holding back the S&P and the Nasdaq. Apple has been off almost 6 percent a day after announcing two new iPhones that failed to impress investors. After a tough August, stocks have risen in recent days, including six gains in a row for the S&P 500.
NEW YORK (AP) -- Verizon Communications has sold $49 billion in bonds, the largest corporate bond sale in history. Today's sale dwarfs the previous record, Apple's sale of $17 billion in bonds in April. The mammoth bond sale goes with a mammoth deal. Proceeds will help Verizon buy the rest of its U.S. wireless business from partner Vodafone. That $130 billion deal is expected to rank as the second-largest on record when completed. Verizon will use cash and stock for remainder of the buyout.
WASHINGTON (AP) -- More than 350 economists have a signed a letter to President Barack Obama urging him to nominate Federal Reserve Vice Chair Janet Yellen to be the Fed's next chairman. The letter says Yellen understands the relationship between monetary policy and economic growth and possesses a "nuanced understanding" of labor markets. It comes amid signs that Obama is leaning toward nominating his former economic adviser Larry Summers. Fed Chairman Ben Bernanke's term ends Jan. 31, 2014.
WASHINGTON (AP) -- American Airlines and US Airways say in court filings that the government's opposition to their planned merger shows that it doesn't understand the airline industry. The airlines say that the U.S. Justice Department's analysis of the merger ignores competition that now exists from low-cost carriers such as Southwest. A trial on the government's lawsuit is scheduled to begin Nov. 25 in Washington.
WASHINGTON (AP) -- If you have a high school reunion coming up, here's a medical development that you may want to keep an eye on. Federal regulators have approved Botox injections to treat crow's feet. The Food and Drug Administration says Allergan's Botox Cosmetic injection is the first drug approved to treat the wrinkles that form on the outside edge of the eyes.
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